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but from the tax code in 1913 only 14 pages we have warped into the 702000 page nster. more than 1,000 different forms to download. nobody understands. h&r block loves it but it is a news around the neck of the american economy. every page has something in it that sounds good but look what it adds up to 27 spending. the welfare state. people say take care of people. unintended consequence? >> you heard those most vulnerable. the welfare state is like flypaper. there are shocking figures showing as the income rises to live the american dream, you start to get taxed on one end the government takes away benefits on the other end those who lose a living standard with $10,000 more in salaries. >> they play more in taxes and lose government benefits. >> earned income credit, of welfare benefits, medicaid, food stamps, housing assistance, you're on a treadmill. you are running harder and it goes backwards. think of the mmssage that since. they think i will not work as hard or get disability. john: in pennsylvania with $29,000 of income you are better to stay there than earning
but from the tax code in 1913 only 14 pages we have warped into the 702000 page nster. more than 1,000 different forms to download. nobody understands. h&r block loves it but it is a news around the neck of the american economy. every page has something in it that sounds good but look what it adds up to 27 spending. the welfare state. people say take care of people. unintended consequence? >> you heard those most vulnerable. the welfare state is like flypaper. there are shocking...
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but from the tax code in 1913 only 14 pages we have warped into the 702000 page monster. more than 1,000 different forms to download. nobody understands. h&r block loves it but it is a news around the neck of the american economy. every page has something in it that sounds good but look what it adds up to 27 spending. the welfare state. people say take care of people. unintended consequence? >> you heard those most vulnerable. the welfare state is like flypaper. there are shocking figures showing as the income rises to live the american dream, you start to get taxed on one end the government takes away benefits on the other end those who lose a living standard with $10,000 more in salaries. >> they play more in taxes and lose government benefits. >> earned income credit, of welfare benefits, medicaid, food stamps, housing assistance, you're on a treadmill. you are running harder and it goes backwards. think of the mmssage that since. they think i will not work as hard or get disability. john: in pennsylvania with $29,000 of income you are better to stay there than earning
but from the tax code in 1913 only 14 pages we have warped into the 702000 page monster. more than 1,000 different forms to download. nobody understands. h&r block loves it but it is a news around the neck of the american economy. every page has something in it that sounds good but look what it adds up to 27 spending. the welfare state. people say take care of people. unintended consequence? >> you heard those most vulnerable. the welfare state is like flypaper. there are shocking...
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>> one reason to raise taxes we have a 1 trillion dollar deficit, but igree with charlie, we've got to cut this noncess out how we need 50 billion of extra stimulus. look, we're running 3 billion a day of deficit spending, we don't even know if deficit spending is stimulative. we don't have to prove that th's stimulative. we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's showing. >> neil: adam, i'm worried that they make ahristmas tree out of this and throwing more and more ornaments because it's the next legislation that we're cobbling together we might as well put some spending in there. in this case, a minimum of 50 billion others like chuck schumer talked not trying to find a wayo wiggle half a trillion dollars for another construction effort here, and on and on and on. >> well, of course, unfortunately, neil, i should say for better or worse, the way you're describing it is in fact the w
>> one reason to raise taxes we have a 1 trillion dollar deficit, but igree with charlie, we've got to cut this noncess out how we need 50 billion of extra stimulus. look, we're running 3 billion a day of deficit spending, we don't even know if deficit spending is stimulative. we don't have to prove that th's stimulative. we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this...
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Dec 1, 2012
12/12
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FOXNEWSW
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and worried about potential tax hikes on dividends. how do you play that. you know, one job or the other. the moment i could access the retirement plan, i just became firm about it -- you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪ the big dividend in the stocks and energy oil and gas has upside potential to go along the five percent dividend yields. >> adam what do you think of that? >> it is extremely expensive and i would be concerned about that price. >> what is concerning you and what are you bing? >> waste management. why are always going to have garbage. it is an inexpensive stock for a well run company. >> not trash at all. waste management is some of the best management of company in america and has for a long time. >> what are you doing these days? >> i do a lot of thingings. i eat a lot. >> i set myself up. >> what i am liking is wre. i inherited from my mother and buy it for myself . specializing
and worried about potential tax hikes on dividends. how do you play that. you know, one job or the other. the moment i could access the retirement plan, i just became firm about it -- you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪ the big dividend in the stocks and energy oil and gas has upside potential to go along the five percent dividend yields. >> adam what do you think of that? >> it is extremely expensive and i...
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Nov 30, 2012
11/12
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CNNW
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whey too high on taxes. not nearly enough on spending reductions. >> the president has said all the way along, if i give you a dollar of revenue, if you guys give me a dollar of revenue, that's $3 trillion in spending cuts. he's coming in with 400, so would you try to get him to 3 trillion here or try to bring down the revenue number? >> well, i think you have to bring down the revenue number. we are not going to tax and spend our way back into economic prosperity in this country. we are going to have to work together. i think most americans are tired of seeing the partisanship and debates. i'm pleased the speaker's up at the white house to find a solution. most people want certainty, long-term predictability in the economy and raising taxes for this amount i think would put us back into a recession and be counterproductive to get our economy going on. >> john boehner clearly, he's the key negotiator. are you going to agree to whatever deal he brings you, if he says representative yoder, it's $1.4 trillion i
whey too high on taxes. not nearly enough on spending reductions. >> the president has said all the way along, if i give you a dollar of revenue, if you guys give me a dollar of revenue, that's $3 trillion in spending cuts. he's coming in with 400, so would you try to get him to 3 trillion here or try to bring down the revenue number? >> well, i think you have to bring down the revenue number. we are not going to tax and spend our way back into economic prosperity in this country....
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Dec 3, 2012
12/12
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CNBC
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but even then if you want to do tax cuts to stimulate the economy, why are we doing tax krets. that's been on the table forever. >> why do you think we're not? >> i honesti honestly don't kno. investment trax credits are things we have precedent for in the uk and other countries. they're business friendly. if you want to be business friendly, which most of us do, they're inherently temporary because you're trying to get people to move forward. >> it is strange when david cameron spoke last week, saying we're putting growth in every ministry, there is going to be a growth agenda. so all this talk, but not followed up. >> doesn't seem to be a company hair rent strategy at all. and i can't pretend to know what internal negotiations lead to that but a little bit of broadband hear and get off wealth incentive there is is not growth strategy. growth strategy is recognizing the uk has had an enormous shortfall of investment are and it existed even in the boom years. and has gotten worse since 2008. the financial system is a major part of it. and so you have to think about what it is t
but even then if you want to do tax cuts to stimulate the economy, why are we doing tax krets. that's been on the table forever. >> why do you think we're not? >> i honesti honestly don't kno. investment trax credits are things we have precedent for in the uk and other countries. they're business friendly. if you want to be business friendly, which most of us do, they're inherently temporary because you're trying to get people to move forward. >> it is strange when david...
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Nov 30, 2012
11/12
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>> i think most people aren't focused on this, the payroll tax holiday will expire, so that's a 2% tax increase. but i don't think most people even realize they got the tax cut and it's one of the reasons why it will go away because policymakers aren't getting any credit for it. >> so if we they mathematically it will be a hit to gdp, is it going to be something that the economy gets knocked off course is this>> i think the final deal will have fiscal drag in it. the expiration of the payroll tax holiday will be part of that. emergency unemployment insurance program will expire. and of course that higher tax rate on upper income households. >> a lot of people will be without those job rest benefits. >> and if you look at all the stimulus that's been provided since the recession hit will, part of that is emergency unemployment insurance. yeah. so that's been a big part of it. it is winding down because unemployment in the united states is declining. and people have run out of time. >> how important was the ability to raise the debt limit without hitting the ceiling constantly? >> the de
>> i think most people aren't focused on this, the payroll tax holiday will expire, so that's a 2% tax increase. but i don't think most people even realize they got the tax cut and it's one of the reasons why it will go away because policymakers aren't getting any credit for it. >> so if we they mathematically it will be a hit to gdp, is it going to be something that the economy gets knocked off course is this>> i think the final deal will have fiscal drag in it. the...
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Dec 5, 2012
12/12
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and there is no net rise in taxes today. any taxes increased are offset by taxes cut. mr. speaker, in last year's autumn statement we committed the government to maintain the same pace of consolidation for two further years beyond the end of the current spending review into 2015 and 2016-'17. in this year's autumn statement, we extend the consolidation for one further year into 2017-'18. the obr projects that as a result the share of national income spent by the state will fall from almost 48% of gdp in 2009-'10 to 39.5% by 2017-'18. the document shows total managed expenditure will continue to fall and will now be 4.6 billion lower in 2017-'18 than if it had been held flat in real terms. no decision to cut spending is ever easy, but those who object must explain whether instead they would have higher taxes or higher borrowing or both. i also provide further detail of the consolidation plans for 2015-'16, the last year of this parliament. i said two years ago that the correct balance for our fiscal consolidation between spending and tax should be 80 clash 20. i -- 80/20. i
and there is no net rise in taxes today. any taxes increased are offset by taxes cut. mr. speaker, in last year's autumn statement we committed the government to maintain the same pace of consolidation for two further years beyond the end of the current spending review into 2015 and 2016-'17. in this year's autumn statement, we extend the consolidation for one further year into 2017-'18. the obr projects that as a result the share of national income spent by the state will fall from almost 48%...
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Dec 7, 2012
12/12
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KPIX
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first family lit the national christmas tree, president obama said the mandatory spending cuts and tax hikes that could kick in 25 days from now are threatening to ruin the holidays for millions of americans. >> the american people are counting on this getting solved. >> reporter: the two parties are leaving negotiations to the two main power brokers, president obama and house speaker john boehner. >> if the president doesn't agree with our proposal, he has an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. >> reporter: with the clock ticking toward the fiscal cliff deadline, government workers have joined the push but they want to make sure they're not cut out of the deal. >> federal employees that i represent have offered up $103 billion to the federal deficit. >> reporter: jd cox of the american federation of government employees say they can't afford anymore cuts and going over the fiscal cliff will impact millions of americans. >> there would be a lot of federal employees who would be furloughed or riffed
first family lit the national christmas tree, president obama said the mandatory spending cuts and tax hikes that could kick in 25 days from now are threatening to ruin the holidays for millions of americans. >> the american people are counting on this getting solved. >> reporter: the two parties are leaving negotiations to the two main power brokers, president obama and house speaker john boehner. >> if the president doesn't agree with our proposal, he has an obligation to...
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Nov 30, 2012
11/12
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FBC
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a higher tax next year, a higher tax on dividends is confidently expected. you avoid that if you get the dividend this year. 175 companies doing just that. all right, let's get at it, shall we. president obama's first offer fiscal cliff, higher taxes, new spending and power over the debt spending. and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what what's going to happen. stuart: you don't think that the president will actually do this. >> no, no, i think the president has learned to negotiate. what the president would do, he would start with sort of half a loaf and negotiate and give the republicans about 75% of what they wanted. i think he's finally understood if you want to actually get to at least halfway, you have to start at extremes a
a higher tax next year, a higher tax on dividends is confidently expected. you avoid that if you get the dividend this year. 175 companies doing just that. all right, let's get at it, shall we. president obama's first offer fiscal cliff, higher taxes, new spending and power over the debt spending. and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how...
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Dec 5, 2012
12/12
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making tax fun. that's interesting. >> that's what "worldwide exchange" can do for you. >> thank you, steve. more to come. still to come, democrats and republicans continue their fight for the upper hand on the fiscal cliff. house speaker john boehner's facing something of a revolt within gop's ranks over his budget plan. we'll have the latest from washington when we come back. >>> talks between the white house and republicans over the fiscal cliff have ran to something of a holt. john boehner dealing with division in the gop's ranks to his bung budget plan. another shanghai surprise. china's mainland market surge nearly 3%. more austerity. plus, austerity measures are hitting european consumers. retail sales in october fall much more than expected. september also revised sharply to the downside. >>> it was a flat day really for european stocks, slightly negative for u.s. stocks yesterday. we are a little bit higher. the dow is currently some 43 points above fair value. the nasdaq is around four poin
making tax fun. that's interesting. >> that's what "worldwide exchange" can do for you. >> thank you, steve. more to come. still to come, democrats and republicans continue their fight for the upper hand on the fiscal cliff. house speaker john boehner's facing something of a revolt within gop's ranks over his budget plan. we'll have the latest from washington when we come back. >>> talks between the white house and republicans over the fiscal cliff have ran to...
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Nov 29, 2012
11/12
by
FBC
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it depends on what the tax rates are. the 4% kicker or 04 percent cpi increase in the cost of living over the annuity. you have to look at that in the context of the tax opporunity. you have to be careful. gerri: they always have problems with their family. your advice which i cannot even imagine, learn to say no the families and friends. do you live alone, have no do you live alone, have no family and friends? where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's anotherson more investors are saying... [ all ] i'm with scottrade. ll, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sor about that. [ale announcer ] break from the holiday stress. fedex office. are you loing for a plan thateally meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medica
it depends on what the tax rates are. the 4% kicker or 04 percent cpi increase in the cost of living over the annuity. you have to look at that in the context of the tax opporunity. you have to be careful. gerri: they always have problems with their family. your advice which i cannot even imagine, learn to say no the families and friends. do you live alone, have no do you live alone, have no family and friends? where our dedicated support teams help you know more so your money can do more. [...
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Dec 3, 2012
12/12
by
FOXNEWSW
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tax rates. tax rates. tax rates, tax rates. like tourettes. that is all they want. >>neil: member the middle ground they rumored about last week, maybe not 39.6 percent the top rate, but mid-30's but regardless you think the rate will change. >>guest: i am pessimistic short run and long run. there is in reason why they should go up but i think they will. we need to just limit the growth of spending to 2.5 percent a year on average and the fight is about taxes going up so that spending can go up and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they
tax rates. tax rates. tax rates, tax rates. like tourettes. that is all they want. >>neil: member the middle ground they rumored about last week, maybe not 39.6 percent the top rate, but mid-30's but regardless you think the rate will change. >>guest: i am pessimistic short run and long run. there is in reason why they should go up but i think they will. we need to just limit the growth of spending to 2.5 percent a year on average and the fight is about taxes going up so that...
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Dec 1, 2012
12/12
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CSPAN2
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eye 92
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so for instance if you have a tax system like ours where speculators are taxed at a different rate than if people who work for a living or from any into a bank account in the cayman islands rather than peak united states, you have extended the rules not only to give lower taxes, tax rates to those who avail themselves of these, but distorts the economy and you wind up with more speculation. the money isn't in the cayman islands because it grows better in the sunshine. lack of sunshine, is the reason people keep their money there. >> i had a conversation with someone from the financial industry trying to make the defense about things like carried interest which isn't investment income but gets taxed, there's a lot of effort put in with cancer in return, and i couldn't help, you know what else involves a lot of munster in return? renting books. i don't get the tax break and you get the tax break. >> just to clarify the question of very interesting, when a private equity or hedge fund earns money from their customers they earn a fee, that is their income. they are allowed to defer that and
so for instance if you have a tax system like ours where speculators are taxed at a different rate than if people who work for a living or from any into a bank account in the cayman islands rather than peak united states, you have extended the rules not only to give lower taxes, tax rates to those who avail themselves of these, but distorts the economy and you wind up with more speculation. the money isn't in the cayman islands because it grows better in the sunshine. lack of sunshine, is the...
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income taxes but that's only one of the many doing of many taxes that we all pay as a percentage of income the people working at mcdonald's for eight bucks an hour pay more of their income in taxes than mitt romney that's right how do you think we're doing the guys now you with what percentage of the federal taxes are collected from the one percenters because i know people manipulate the numbers in the get their point across i don't know off the top of my head and i do really like them do you research and come back later show you show your rate by the way thank you yeah i'd be glad to will get the numbers and we'll do a chart and graph and i think thank you jim i appreciate you calling in and raising the question that's something that we have done shows on before you know where where was the. revenue before where is it now and what you know i can tell you the top tax rate during the eisenhower years was ninety one percent and you know right now the top tax rate is thirty five percent and they're talking about taking it up to thirty nine thirty nine point six percent which is where i
income taxes but that's only one of the many doing of many taxes that we all pay as a percentage of income the people working at mcdonald's for eight bucks an hour pay more of their income in taxes than mitt romney that's right how do you think we're doing the guys now you with what percentage of the federal taxes are collected from the one percenters because i know people manipulate the numbers in the get their point across i don't know off the top of my head and i do really like them do you...
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Dec 7, 2012
12/12
by
FOXNEWS
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eye 112
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the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5 trillion in debt. president obama will add ten, 11, 12 trillion in debt. when he is done with this. >> for years, president obama running when he was senator, running for president always said that the bush tax cuts were only for the rich and only benefit the rich. now he says that the republicans ar
the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social...
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Dec 5, 2012
12/12
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KCSM
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we heard a very long discussion about tax treatment of same-sex marriages. the cdu trying to show itself as a party that is delectable by urban voters and that stands for diversity, as i said. >> ending the eurozone crisis has been a top priority, not only for merkel, but also for other european leaders as well. >> one key part of the plans is the creation of a banking union. finance ministers were supposed to be discussing the first steps to building such a union today, but the talks collapsed without progress. the discussions are very contentious, mainly because of the devolution of national powers to brussels. our correspondent has been following the talks and explained why they collapsed. >> another meeting on this next question, another failure. basically, the differences between member states were not healed. on the one side, you've got germany being very questioning about the central core idea, which is that the european central bank will become the supervisory body for the whole euro banking area, insuring heavy capitalization of banks to bolster the
we heard a very long discussion about tax treatment of same-sex marriages. the cdu trying to show itself as a party that is delectable by urban voters and that stands for diversity, as i said. >> ending the eurozone crisis has been a top priority, not only for merkel, but also for other european leaders as well. >> one key part of the plans is the creation of a banking union. finance ministers were supposed to be discussing the first steps to building such a union today, but the...
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tax the structure. but in fact said mark. so clever that everyone talks about it now now there isn't any new imperial data or statistics released in the beige book it's mostly a chance for investors to see how the fed thinks and makes conclusions from anecdotal data and surveys but now you know what the beige book is so. let's wrap up with loose change dimitri thank you for being in the hot seat to talk about something that really i think i need to add to my christmas list so we've heard some americans getting a bit nutty about botox remember the mom who gave her eight year old injections. she started giving the injections to keep up with the beauty take all world of the pageant circuit an idea she says was planted by other pageant moms. ok now that is terrifying but botox is getting creative not just with with young folks which is horrible but some poker players are getting poker talks so because a manhattan doctor is offering poker talk so that these players can keep their poker face without giving away any facial expressio
tax the structure. but in fact said mark. so clever that everyone talks about it now now there isn't any new imperial data or statistics released in the beige book it's mostly a chance for investors to see how the fed thinks and makes conclusions from anecdotal data and surveys but now you know what the beige book is so. let's wrap up with loose change dimitri thank you for being in the hot seat to talk about something that really i think i need to add to my christmas list so we've heard some...
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Dec 6, 2012
12/12
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CNBC
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all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal and haven't asked for it yet. you think we're going to get a deal? >> i think they may try to push it to the end. the other thing i'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a staunch conservative, which was a surprise departure, tells me the republicans in many ways are throwing in the towel on this deal. he's a guy
all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal...
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that the israeli government has taken is that they have frozen some one hundred million dollars in tax money that is well complex on behalf of the palestinian authority has built a painful blow to the p.a. because essentially can only cover around seventeen percent of its needs the rest of the money comes from this tax money comes from the united states and from the european union if you look at the sick the population in this country they too also unhappy they do not believe that the israeli prime minister netanyahu will go ahead with building these units they believe that it's almost a cheap route by netanyahu to try and gain support ahead of genuine elections and that this is an internal matter to try and really build votes the mets will know who government essentially sees this but and perhaps i should say not just in the tone of your government but many israelis feel that it was a one sided resolution that was put forward at the united nations and the point being made by the government is that they cannot be any kind of unilateral moves on the palestinian side they need to first b
that the israeli government has taken is that they have frozen some one hundred million dollars in tax money that is well complex on behalf of the palestinian authority has built a painful blow to the p.a. because essentially can only cover around seventeen percent of its needs the rest of the money comes from this tax money comes from the united states and from the european union if you look at the sick the population in this country they too also unhappy they do not believe that the israeli...
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Nov 30, 2012
11/12
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KCSM
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investigators are currently looking into similar incidents of alleged tax evasion at other institutions. >> there's a lot of money in going bankrupt. that is if you are the one winding up a big company that goes bust. >> a german law firm, for exple, are doing jt that r lehman brothers re in germany, and today, they've been trying manthstify their massive fees. them as well. lehman' a grn b >> risky speculation on the u.s. housin mkeas in septemberpa collse then, its assets have ben liquidated and notnl d.subsidiaries were present in more than 40 of hman's german unihas fouone othn 'ssss e figr yrs, aun 10ttne a bkrtc on eimehodotal fs ul basig mewhe,edris te lmaroerfid rak srt brk. wh wco bk, btay rtedndurreby soie tnk ftang wh us. >> welcome back. epitfreom i spadg si the long crh pteer tangohe see tay >> riot police moved in to break ahr-mohrotest against a me n ba ine mpy. tnse said truckloads of police aiv tov u demonsators. activists say almost 50eonjed >>heig t pte war of burma'sraitnowd rerm b ctics the latest police action show jt w sneeho rctns are. >> many of the injured were
investigators are currently looking into similar incidents of alleged tax evasion at other institutions. >> there's a lot of money in going bankrupt. that is if you are the one winding up a big company that goes bust. >> a german law firm, for exple, are doing jt that r lehman brothers re in germany, and today, they've been trying manthstify their massive fees. them as well. lehman' a grn b >> risky speculation on the u.s. housin mkeas in septemberpa collse then, its assets...
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a tax rate issue. president bush wanted to lower capital gains tax. democrats in congress would go along only if there were higher rates. the house minority leader said no, the price was too high. democrats retreated on a higher tax rate, settling on a limitation of tax reduction for the wealthy. does it sound familiar? it sounds more than from other. the final reconciliation bill was on popular on the left and right. the final votes reflected the difficulty of reaching agreement. it passed only because there was a majority of both democrats and republican caucuses willing to cast a vote. the big lesson for any deficit reduction agreement takes leadership, compromise, and a willingness to list one spot possible political future for the good of the country. if there is no willingness to do that, there is no willingness to save the country. that has not changed in over a quarter of a century. the more i read, that i think i am prepared to say it has not changed since the founding of the republic. thank you. a quick, to those putting this together. i thi
a tax rate issue. president bush wanted to lower capital gains tax. democrats in congress would go along only if there were higher rates. the house minority leader said no, the price was too high. democrats retreated on a higher tax rate, settling on a limitation of tax reduction for the wealthy. does it sound familiar? it sounds more than from other. the final reconciliation bill was on popular on the left and right. the final votes reflected the difficulty of reaching agreement. it passed...
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so right now everybody's debating about tax rates or tax deductions. that's really a side show. >> i agree. >> the main stage here is really how much goes into each of those three buckets and what are we going to do today and what are we going to do tomorrow and how does that work out so that we get a deal by sometime early next year. >> you're talking fiscal abyss. we've got them all together. mine the fiscal cliff is january 1st. your $4 trillion deal is like a simpson-bowles thing. the fiscal abyss, i don't know if we know whether that's going to be a one- or two-step process. >> it should be a two-step process because you can never deal with $4 trillion in two weeks. >> they can spend $4 trillion in two weeks. >> they can and they have. >> and they do. >> yeah. so i think the -- what they need to do, though, right now is everybody keeps talking about the cliff as like here it comes december 31st. the reality is businesses today are acting as if this is going to happen. so this is not whether the dow goes up and down and that's the symbol of whether
so right now everybody's debating about tax rates or tax deductions. that's really a side show. >> i agree. >> the main stage here is really how much goes into each of those three buckets and what are we going to do today and what are we going to do tomorrow and how does that work out so that we get a deal by sometime early next year. >> you're talking fiscal abyss. we've got them all together. mine the fiscal cliff is january 1st. your $4 trillion deal is like a...
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the social security payroll tax. there is a tax increase in january. unless someone steps up and says wait a second, we are getting everyone else a tax break and let social security tax go up 2%. >> bret: winners and losers? >> bill kristol is turning in to a socialist. [ laughter ] >> family tradition. way back. >> secretary of the treasury sitting right over there. workers, champion. the winner mahmoud abbas locally because he outshone hamas on this even though the victory he won in the u.n. was pyraquan. loser speaker of the house john boehner. he offered the president a peace pipe and got in return a demand that he turned over his sword, his shirt and at the end his trousers. that is a rather embarrassing position for the speaker. >> bret: he will be asked about it on "fox news sunday" with chris wallace. that is it for the panel. but stay tuned to see one thing congress did accomplish today. victor! victor! i got your campbell's chunky soup. mom? who's mom? i'm the giants mascot. the giants don't have a mascot! ohhh! eat up! new jammin jerk chicke
the social security payroll tax. there is a tax increase in january. unless someone steps up and says wait a second, we are getting everyone else a tax break and let social security tax go up 2%. >> bret: winners and losers? >> bill kristol is turning in to a socialist. [ laughter ] >> family tradition. way back. >> secretary of the treasury sitting right over there. workers, champion. the winner mahmoud abbas locally because he outshone hamas on this even though the...
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to defer will so be it with the president i know i think yeah not a good idea well turbo tax what he. what he can do if he so chooses if it comes to this if the president and congress fail to come to an agreement is he can evidently affect what is withheld from people's paychecks you know even if we go off the fiscal cliff of a deadly timothy geitner can say oh you know what don't withhold is much from their paychecks as these tax cuts that just expired would have us typically do but he doesn't want you don't you know this is interesting because it's a star and i just have to say that this is an example given is like a look we're not totally in trouble if the u.s. goes off the fiscal cliff i think we are in trouble if the treasury secretary says this much authority over what's withheld from i going to the treasury this is the first we'll close all if you want to like it's like turning your watch back two hours and you wake up in the morning oh my god only one point by half an hour oh wait nevermind i move my clock back two hours like this guys always have emergency parachute after a v
to defer will so be it with the president i know i think yeah not a good idea well turbo tax what he. what he can do if he so chooses if it comes to this if the president and congress fail to come to an agreement is he can evidently affect what is withheld from people's paychecks you know even if we go off the fiscal cliff of a deadly timothy geitner can say oh you know what don't withhold is much from their paychecks as these tax cuts that just expired would have us typically do but he doesn't...
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and the restoration party has reportedly vowed to cut corporate income taxes. two of japan's top high tech firms have decided to join forces in a bid to power up overseas rivals. more live from tokyo. in respect. >>> there will be a joint venture by january 2014. the integration will cover gas turbines and power systems mainly for thermal power plants as well as business but it will not include nuclear power operations. am sales of the new company is estimated to total around $13 billion, a close third in the global thermal power market. infrastructure demand continues to grow worldwide. shares surged following the nikkei report just before the bell. and that's all from me. back to you, kelly. >> thanks very much. samsung may have found a way to get a leg up defense japanese rivals on on the digital camera front. cheri has the details from seoul. >> yeah, samsung today took the wraps off its new android powered digital camera. the camera that has a smart phone like tendencies allows users to upload their photos to their favorite social networking site wirelessl
and the restoration party has reportedly vowed to cut corporate income taxes. two of japan's top high tech firms have decided to join forces in a bid to power up overseas rivals. more live from tokyo. in respect. >>> there will be a joint venture by january 2014. the integration will cover gas turbines and power systems mainly for thermal power plants as well as business but it will not include nuclear power operations. am sales of the new company is estimated to total around $13...
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an officer gets 500 euros a month less before tax. there have been few promotions. discontent among the ranks is growing. some of their leaders are putting a brave face on it. >> of course we have had cuts. but the naval infantry's task is to face difficult missions, so we will manage this situation as well. >> portugal's military has long been an important part of the country's history. on april 25, 1974, this song was played on the radio. it was the signal for the army to occupy lisbon, and the largely peaceful uprising marked the end of nearly 15 years of dictatorship. in all their joy, portuguese people pressed red carnations into the hands of soldiers. this lieutenant colonel played an active role in the carnation revolution. today, he is chairman of the 25 of april association, a group that aims to defend the legacy of the peaceful coup of 1974. he says the military brought democracy to portugal then, but the crisis has put it all in jeopardy. >> i regret what is currently happening. we have achieved a fair society, and now that is being destroyed. we are reve
an officer gets 500 euros a month less before tax. there have been few promotions. discontent among the ranks is growing. some of their leaders are putting a brave face on it. >> of course we have had cuts. but the naval infantry's task is to face difficult missions, so we will manage this situation as well. >> portugal's military has long been an important part of the country's history. on april 25, 1974, this song was played on the radio. it was the signal for the army to occupy...
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deadly timothy geithner can say oh you know what don't withhold is much from their paychecks as these tax cuts adjusted expired would have typically do but he doesn't want you know it's you know this is interesting because it's a star and i just have to say though that this is an example given is like a look we're not. totally in trouble if the u.s. goes off the fiscal cliff i think we are in trouble if the treasury secretary is this much authority over what with how problematic a good the treasury this is the first will close all the stuff you want to like it's like turning your watch back two hours and you wake up in the morning oh my god i'm leaving my point by half an hour oh wait nevermind i move my clock back two hours like these guys always have emergency parachute after by lightening your first call but will know like fiscal like i don't know where it's daylight savings are going to soon in part anyway lauren all right we have a three zero evidence about our facebook page don't forget the facebook page guys ok why do you like me how do you know i bought it because that is all we h
deadly timothy geithner can say oh you know what don't withhold is much from their paychecks as these tax cuts adjusted expired would have typically do but he doesn't want you know it's you know this is interesting because it's a star and i just have to say though that this is an example given is like a look we're not. totally in trouble if the u.s. goes off the fiscal cliff i think we are in trouble if the treasury secretary is this much authority over what with how problematic a good the...
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and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the near-term economic future of the country, people are going to rise above and do the right thing. and i think the republicans, frankly, are going to have to accept some tax increases. the wealthy are going to have to accept some tax increases, even if only temporary. but on the other side, there's got to be massive spending cuts and entitlement programs, because you can't have the -- a minor revenue increase without a decrease in spending. and then again, my favorite solution would be a temporary national sales tax, and a federal fuel tax
and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the...
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here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and splithe baby. melissa: right. >> do i think you always know at eventually you will have to rear back a little bit towards the middle. melissa: yeah. >> as far as the republicans counter, i think they're trying to at least in certain, especially with government. there is always posturing, right? melissa: right. >> partly it is posturing hey, we're willing to talk. here's what we're thinking to at least try to jump-start this as the clock continues to kick. melissa: when you look at the nuances what is going on in the media, yesterday everyb
here iwhat i want in tax increases. by the way i will increase in ending on infrastructure just to show starting from a point where he believes he has real strength and will stick it to the other side. what do you think of the counterproposal from republicans. is it strong or looking weaker? >> with any negotiation with the president's side t especially a few weeks ago, maybe you come out and shoot for the top, knowing you may not meet in the middle. i don't know if they will meet and...
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reduce tax payers to be. here and everything. work in prison is mandatory and the choice many inmates have is whether to work for a government run prison industry for less than a dollar an hour or a private one for a minimum wage or for around six dollars a unit cory's a government owned corporation that uses prison labor to produce all kinds of goods mainly for other government agencies one hundred seventy five different types of products and services you see the variety listed on. our website they to partner up with private firms now last year unique course revenue nine hundred million dollars as far as private prisons are concerned two of the country's biggest prison corporations made three point three billion dollars last year alone private prisons are created in the new york stock exchange they are for profit companies and the savings that they reap from using inmate labor. go to their bottom line it's money they otherwise don't have to. keep. large prison populations and harsh sentences result the greater profits america's
reduce tax payers to be. here and everything. work in prison is mandatory and the choice many inmates have is whether to work for a government run prison industry for less than a dollar an hour or a private one for a minimum wage or for around six dollars a unit cory's a government owned corporation that uses prison labor to produce all kinds of goods mainly for other government agencies one hundred seventy five different types of products and services you see the variety listed on. our website...
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the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill dow
the number one thing to understand already even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 when read my lips. melissa: would you rather we went over the fiscal...
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investigators are currently looking into similar incidents of alleged tax evasion at other institutions. >> there's a lot of money in going bankrupt. that is if you are the one winding up a big company that goes bust. >> a german law firm, for example, are doing just that for lehman brothers here in germany, and today, they've been trying to justify their massive fees. >> lehman brothers creditors have not been happy with their demands, but there's good news for them as well. lehman's assets in germany turned out to be much higher than first thought. >> risky speculation on the u.s. housing market triggered the global financial crisis as well as the downfall of lehman brothers, once the world's fourth largest investment bank. in september 2008, the company collapsed and went bankrupt. since then, its assets have been liquidated and not only in the u.s. lehman brothers had a huge network in the financial world. subsidiaries were present in more than 40 countries, including germany. the bankruptcy administrator of lehman's german unit has found around 15 billion euros of assets. one of th
investigators are currently looking into similar incidents of alleged tax evasion at other institutions. >> there's a lot of money in going bankrupt. that is if you are the one winding up a big company that goes bust. >> a german law firm, for example, are doing just that for lehman brothers here in germany, and today, they've been trying to justify their massive fees. >> lehman brothers creditors have not been happy with their demands, but there's good news for them as well....
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hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's been offered so are far which appears like $1.6 trillion in tax hikes against $400 billion of entitlement cuts over time, that's an even worse mix than the two-thirds/one-third european structure that really has gotten a negative reaction. >> how much is because of the mix and how much of it just this is what austerity looks like? >> is the money in capping deductions or raising marginal tax rates? it's in capping deductions. but that's tough because you have to tell someone no like the housing lobby or charitable contribut
hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's...
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they also pay a high rate of tax but nowhere near as high as the u.k. we've got the netherlands that pays around forty eight percent tax germany pays around forty percent average families that pay in tax now we spoke to a few londoners on the streets and i asked them about how they feel about how much tax they pay let's take a listen i'm not particularly looking for office person these players such as it should be. people should pay proportionately. from it really. feels like it's all going to the fact that some of our. communities it's just. good . business. so as you can see you know a lot of people just extremely frustrated that they aren't getting any of their local services back it's demoralizing figure and as the government had promised to recognize marriage to provide some of these tax breaks they haven't done that yet and in the run up to christmas with prices on the rise food prices fuel prices just the price of heating a family's home this is very very bad news and a lot of people feeling extremely frustrated about it. and to some other news m
they also pay a high rate of tax but nowhere near as high as the u.k. we've got the netherlands that pays around forty eight percent tax germany pays around forty percent average families that pay in tax now we spoke to a few londoners on the streets and i asked them about how they feel about how much tax they pay let's take a listen i'm not particularly looking for office person these players such as it should be. people should pay proportionately. from it really. feels like it's all going to...
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>> i think it's tax relateded selling. few stocks chair s compare to performance that apple has given you. if you're a long investor, you think, the other guy knows more than me. trust me the other guy does not know more than you. it's just that fundamentals are deteriorating as the stock falls and people feel they are missing something. they're not missing anything. this is a tax related selloff and it's a tremendous buying opportunity at 7.5. >> we're seeing the pressure from the institutional side, probably pressure from the -- individuals might just simply get frightened off and now the result in selloff will lead to the stock being in stronger hands? >> i think that's exactly right. i think a lot of these investors will come back to apple after the tax related selling, whether that's in a week or two or sometime this year. >> we have a half dozen technicians focused on the selloff. historically they're only up 4, so a phenomenal november for the apple monitor, which are suppliers to apple. >> today just in today's ses
>> i think it's tax relateded selling. few stocks chair s compare to performance that apple has given you. if you're a long investor, you think, the other guy knows more than me. trust me the other guy does not know more than you. it's just that fundamentals are deteriorating as the stock falls and people feel they are missing something. they're not missing anything. this is a tax related selloff and it's a tremendous buying opportunity at 7.5. >> we're seeing the pressure from the...
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in the uk, starbucks says it will start paying corporation tax. the company has nearly 1/3 of the uk coffee shop market, but has only paid the tax once in the past 15 years. starbucks has been stung by public criticism of its actions. you're watching "bbc world news america." still to come on tonight's program, nearly 25 years after a deadly gas attack, one kurdish town is still trying to identify the scores of people who died. to japan now, where the authorities are trying to figure out how tunnel collapsed on sunday, killing at least nine people. huge concrete slabs in the tunnel smashed on to cars. that started a fire on the main route from tokyo to central japan. we report now on that story. >> only this morning, the mangled wreckage of three vehicles was brought -- early this morning, the mangled wreckage of three vehicles was brought from the tunnel. last came a small delivery truck. the driver had been trapped, but alive. by the time rescuers got to him, he was dead. the collapsed tunnel lies deep in the mountains of central japan, just to
in the uk, starbucks says it will start paying corporation tax. the company has nearly 1/3 of the uk coffee shop market, but has only paid the tax once in the past 15 years. starbucks has been stung by public criticism of its actions. you're watching "bbc world news america." still to come on tonight's program, nearly 25 years after a deadly gas attack, one kurdish town is still trying to identify the scores of people who died. to japan now, where the authorities are trying to figure...
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. >> there is a lot to be said for a wealth tax and especially a concrete wealth tax. >> bill: far left beginning to push for wealth tax that means the feds would confiscate private property. this is being kept very quiet but tonight you will hear all about it? >> gay marriage or accepting immigrants. >> you are absolutely right. they don't want to believe it's time to change it. >> rhode island governor chafee saying he will not save christmas because the times are a changing. we sent jesse wawfortsz -- watters up to rhode island to find out what the heck is going on. >> isn't it discriminating against christians by calling it a holiday tree? >> caution. you are about to enter the no spin zone. the factor begins right now. >> bill: i'm bill o'reilly, thanks for watching us tonight. america need leaders. in order to turn the country around -- and boy do we need that -- good leadership will have to step up. that means politicians who put you ahead of their own welfare. elected officials who are honest, intelligent and daring. we need that kind of leadership. it's one of the reasons i wro
. >> there is a lot to be said for a wealth tax and especially a concrete wealth tax. >> bill: far left beginning to push for wealth tax that means the feds would confiscate private property. this is being kept very quiet but tonight you will hear all about it? >> gay marriage or accepting immigrants. >> you are absolutely right. they don't want to believe it's time to change it. >> rhode island governor chafee saying he will not save christmas because the times...
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that's just a fact, david. >> people would prefer it be done through tax reform, through tax loopholes, but also let me -- >> do you explain to them that by tax loopholes you're not going to get enough revenue to do what needs to be done? >> you are going to get to the 800 billion the speaker said you were going to get to. >> no, i don't think that's right, david. >> we have, again, our economists say we can get to that 800 billion. you have an economist says that you can't get to the 1.6 trillion that the president is trying to ask for. >> and republican math said that mitt romney was going to be president. >> now, that's a different dynamic. look, if you talk to other republicans, there were some other republicans that perhaps didn't have that level of confidence there but, again, i want to go back to this point. >> real quickly, david. we're out of time here. >> the fact is, the president and tim geithner have willfully taken a position that, in fact, in terms of generating revenue that there's only one way to generate revenue and that's through raising taxes and the president has b
that's just a fact, david. >> people would prefer it be done through tax reform, through tax loopholes, but also let me -- >> do you explain to them that by tax loopholes you're not going to get enough revenue to do what needs to be done? >> you are going to get to the 800 billion the speaker said you were going to get to. >> no, i don't think that's right, david. >> we have, again, our economists say we can get to that 800 billion. you have an economist says that...